HiBob, an Israeli HRTech company aiming to transform how organizations operate in the modern world of work with its HR platform Bob, has raised $150 million in new funding from a round led by Farallon Capital, with participation from Alpha Wave Global and existing investors.
According to the company, the latest funding will be used in three ways. To provide additional value to its consumers by launching new modules to increase average income per user. Second, it plans to expand into new markets and invest more in areas where it already operates, and third, it aims to increase the number of partners with whom it collaborates. HiBob will also be able to increase its investment in product creation and development.
Founded in 2015, HiBob provides HR teams with tools to manage their workers. It offers an alternative to human capital management platforms to allow HR managers and employees to work together to adjust employment processes and keep up to date with changes to how, where and when they work. Its modular approach caters to multinational companies seeking agile technology and robust analytics to support operations across distributed workforces in the ever-evolving economic and workplace landscape.
Speaking on the fundraising, Ronni Zehavi, CEO and co-founder of HiBob, said:
Our partnership with Farallon Capital and Alpha Wave Global is a testament to our continued leadership in the HCM software category. Modern HR leaders support teams across the business and the globe, delivering agile, data-driven people solutions to today’s most demanding business challenges. HiBob enables these teams with powerful HCM capabilities, helping our customers drive engagement and keep their people at the centre of every strategic initiative. In a challenging economic climate, this new funding reflects the strength of our strategy, business, and ability to deliver results. We value the trust that Farallon Capital and our existing shareholders have placed in us.
The startup, which employs 800 people, half of them in Israel, serves 3,500 customers across the globe, with offices in various international locations. Organizations use HiBob’s Bob platform to accelerate hiring, retain talent, and elevate employee engagement.
Ido Krakowsky, Investment Director of Farallon Capital, added:
The role of technology in human capital management is constantly rising, and HiBob has consistently proven its product excellence as a mission-critical, full-service solution serving a diverse global customer base. In a dynamic environment, HiBob enables HR leaders to serve an increasingly strategic function and adapt nimbly to evolving HR priorities. HiBob has established itself as the go-to option for organizations looking to streamline HR processes while emphasizing talent retention, employee engagement, and data-driven decision-making. We look forward to working with Ronni and the team as HiBob enters this next growth stage.
This is the company’s third investment round in two years, following a Series D round in August 2022 and a Series C round in October 2021. It has so far raised a total of $574 million.